Question

Difference between central bank and commercial bank with examples

Answer 1

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The following are the differences between central bank and commercial bank

The bank, which monitors, regulates and controls the financial system of the economy is known as Central Bank. The financial institution which receives the deposits from people and advances them money is known as Commercial Bank.

Central Bank is the banker to banks, government, and financial institution, whereas Commercial Bank is the banker to the citizens.

The Central Bank is the supreme monetary authority of the country. As against this, the commercial bank does not have such authority and powers.

The Central Bank of India i.e. the Reserve Bank of India is governed by RBI Act, 1934. Conversely, the Commercial Bank are regulated by the Banking Regulation Act, 1949.

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